Budget deficit edges over EUR 7.5 billion at end-May, ministry confirms

Hungary’s cash-flow-based budget shortfall at the end of May was HUF 2,763.3 billion (EUR 7.5bn), the finance ministry confirmed on Thursday.

The central budget deficit was HUF 2,752.4 billion, while social security funds were 67.3 billion in the red. Separate state funds posted a surplus of HUF 56.5 billion.

The deficit in the month of May came to HUF 53.6 billion, the lowest May deficit in seven years, the ministry said.

The ministry noted that expenditures related to the regulated utilities price scheme for households came to HUF 894.6 billion by the end of May.

Expenditures on home subsidies reached HUF 320.3 billion in January-May, up by 95.7 billion from the base period on higher payouts for home renovations.

“During wartime, the government’s primary goal is the protection of families and workplaces, and preserving the value of pensions,” the ministry said. “The budget will ensure all necessary resources for that, while the government continues to improve balance indicators.”

Source: MTI